1.) How much is the capitalizable borrowing cost of Victory Company? The following transactions pertain to the general borrowings made during 2020 by Champion Company in connection with the construction of the company's new warehouse: Principal Borrowing Costs 8% bank loan P2,400,000 P192,000 6% short-term note 1,600,000 96,000 8% long-term note 2,000,000 160,000 The construction started on January 1, 2020 and the warehouse was completed on December 31,2020. Expenditures on the warehouse were as follows: January 1 March 31 June 30 P 400,000 1,000,000 1,200,000 September 30 December 31 P1,000,000 400,000 a. P149,400 b. P448,000 C. P298,600 d. PO 3. 2.) What is the cost of the new asset acquired as basis for recording in the books of Tweeny? Tweeny Company exchanged a delivery van and P50,000 cash for a newer van owned by Thirdy Corporation. The following data relate to the values of the vans on the date of exchange: Carrying value Fair Value Tweeny 300,000 450,000 Thirdy 400,000 500,000 Immediately after the exchange, Tweeny Company determined that the cash flows of the van received differ from the cash flows of the van transferred. a. 300,000 b. 450,000 C. 400,000 d. 500,000 3.) What amount should Tweeny report as a gain on exchange of the vans? Tweeny Company exchanged a delivery van and P50,000 cash for a newer van owned by Thirdy Corporation. The following data relate to the values of the vans on the date of exchange: Carrying value Fair Value Tweeny 300,000 450,000 Thirdy 400,000 500,000 Immediately after the exchange, Tweeny Company determined that the cash flows of the van received differ from the cash flows of the van transferred. a. 150,000 b. PO C. P 7,000 d. P10,000